Ferrabyrne has established a new subsidiary company in China. Ferrabyrne (China) has been operating as an office for a number of years and has now stepped this up with the creation of the Ferrabyrne-owned subsidiary company, Qingdao Ferrabyrne Rail Technologies Ltd. The name was approved and the company licence issued in May 2021. With registration now completed with all appropriate authorities in China, the company is now open for business. This company is based in the same coastal city Qingdao as our key Chinese customer’s CRRC Sifang factory.
On behalf of the shareholders, Ken Horton (Managing Director of Ferrabyrne Ltd) is appointed into the senior role as ‘Supervisor’ of the new company. Changhao Xiu (Director of China Projects at Ferrabyrne Ltd) is appointed as both the Managing Director and Legal Representative of this company. These appointments have been formally registered with the local authorities in China.
Transactions with Chinese customers to date were always made by Ferrabyrne Ltd. However, moving forward, transactions with Chinese customers can now be made by either Ferrabyrne Ltd or Qingdao Ferrabyrne Rail Technologies Ltd - as required for each specific project.
The new company is a part of the Ferrabyrne Group’s developing global strategy of offering local content for local markets. Qingdao Ferrabyrne Rail Technologies Ltd will be able to supply systems and components made in China i.e., “made in China for China”.
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